Life Insurance
Categories: Insurance, Retirement, Tax
Life insurance is kind of a weird term, especially considering that the entire "life insurance" industry is regulated differently from other investment, corporate, or religious entities.
Life insurance "policies" were originally created to protect the soon-to-be-widowed wives of professional loggers and lumberjacks. Members of a fraternity of lumberjacks would pay a couple cents out of their dollar to a pool, knowing that if they were crushed by a log tomorrow, their family would get a check from the fraternity for something. Something > nothing.
Check out our section on life insurance for all the details.